Brazil | Changes in the BCB board, rather than interest rate cuts, are on sight

Summary

The minutes of the previous monetary policy meeting showed that although concerns on inflation are declining, there is still no room for a monetary easing. We do not expect the Selic to be cut soon, but uncertainty is higher than usual as the vice-president Temer will likely assume presidential duties next week and a change in the command of the BCB is a possibility.

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